GlycoMimetics Target of Unusually High Options Trading (NASDAQ:GLYC)

GlycoMimetics, Inc. (NASDAQ:GLYC) was the target of unusually large options trading activity on Monday. Stock investors purchased 14,196 put options on the stock. This represents an increase of approximately 830% compared to the typical daily volume of 1,526 put options.

Hedge Funds Weigh In On GlycoMimetics

Several institutional investors have recently modified their holdings of GLYC. Acuta Capital Partners LLC acquired a new stake in shares of GlycoMimetics in the 3rd quarter valued at approximately $41,000. Advisor OS LLC bought a new stake in GlycoMimetics in the fourth quarter valued at approximately $238,000. Finally, MJP Associates Inc. ADV acquired a new stake in GlycoMimetics in the fourth quarter worth $238,000. 75.19% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GLYC has been the subject of several research reports. Capital One Financial restated an “overweight” rating on shares of GlycoMimetics in a research report on Thursday, February 22nd. HC Wainwright reissued a “neutral” rating on shares of GlycoMimetics in a report on Monday. Finally, StockNews.com downgraded GlycoMimetics from a “hold” rating to a “sell” rating in a report on Thursday, March 14th.

GlycoMimetics Stock Performance

Shares of GLYC stock opened at $0.31 on Wednesday. The firm’s 50 day moving average price is $2.42 and its two-hundred day moving average price is $2.33. GlycoMimetics has a 52-week low of $0.27 and a 52-week high of $3.53. The stock has a market cap of $19.68 million, a PE ratio of -0.53 and a beta of 2.30.

GlycoMimetics (NASDAQ:GLYC) last posted its quarterly earnings results on Wednesday, March 27th. The biotechnology company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.01. The company had revenue of $0.01 million during the quarter. As a group, sell-side analysts predict that GlycoMimetics will post -0.54 earnings per share for the current fiscal year.

GlycoMimetics Company Profile

GlycoMimetics, Inc, a clinical-stage biotechnology company, focuses on the discovery and development of glycobiology-based therapies for cancers, including acute myeloid leukemia (AML) and inflammatory diseases with unmet needs in the United States. It is developing uproleselan, an E-selectin antagonist, which is used in combination with chemotherapy to treat AML, as well as in phase 3 trial to treat relapsed/refractory AML.